Property Overview: 481 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1947, presenting a straightforward opportunity in Winnipeg's Jefferson neighbourhood. Its key characteristic is its affordability, underscored by a below-average assessed value. With 728 sqft of living space, it is notably compact—smaller than most comparable homes on its street and in the wider area. The basement exists but is not renovated, and the property includes a detached garage and an average-sized lot of approximately 4,500 sqft.
The appeal lies primarily in its position as an accessible entry point into the housing market. It suits buyers with a limited budget who prioritize location and land ownership over square footage, such as first-time homeowners, downsizers, or investors looking for a rental property. A thoughtful perspective for the right buyer is viewing the home's smaller size and unrenovated basement not as drawbacks, but as a shield against excessive property tax assessments and high utility costs, keeping ongoing ownership expenses low. Its average lot size also offers potential for future expansion or outdoor space, which is a valuable asset not reflected in the living area figures.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper"?
The data specifies the basement is "not renovated," suggesting the home may require updates. The overall below-average assessed value often correlates with properties needing modernization. Viewing the interior is essential to understand the full scope.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's characteristics (size, age, condition) relative to others. This home's compact size and likely original condition result in a lower municipal assessment, which directly translates to lower property taxes.
3. How recent are the sold price figures?
The most recent sale shown is from February 2025, with a price range provided. For the exact, verified sold price, you must request it directly via the email feature on the listing page.
4. What does the ranking data (e.g., "Top 89%") actually mean?
For living area, "Top 89%" means this home is larger than only 11% of comparable homes on its street—it's in the bottom 11th percentile. These rankings help you gauge how a specific feature compares locally, with "around average" typically being near the 50th percentile.
5. Who would this property NOT suit?
It may not suit buyers who need significant move-in-ready space, have a growing family, or are unwilling to take on potential renovation projects. The limited living area is the most defining constraint.